TheCable

The Punch reports that four of the tier-1 banks in the country — FBN Holdings, Access Holdings, Guaranty Trust Holding Company Plc and United Bank for Africa Plc — have indicated plans to raise over $3.03bn (N3.46tn) in fresh capital. The newspaper says organised labour has asked the federal government to announce a new minimum wage on May 1.

The Guardian reports that despite the naira maintaining a steady rise against foreign currencies, prices of goods and food items are still high in the market. The newspaper says the Peoples Democratic Party (PDP) in Ekiti has berated Biodun Oyebanji, governor of the state, over the appointment of 110 new aides.

Vanguard reports that the Transmission Company of Nigeria (TCN) has publicly disagreed with electricity distribution companies over failure to meet the 20-hour minimum electricity supply for customers in Band A. Siminalayi Fubara, governor of Rivers, said those with integrity in the state are solidly behind him, the newspaper says.

THISDAY reports that the Economic and Financial Crimes Commission (EFCC) said it has recovered N32 billion and $447,000 in the ongoing investigation of the ministry of humanitarian affairs and poverty alleviation. The newspaper says the new Electricity Act 2023 (EA) prescribes more punishment for Nigerians who steal power, illegally connect electricity, tamper with metering devices, or embark on destruction of facilities belonging to operators in the value chain.